Clark Estates Inc. NY Trims Stock Position in Fiserv, Inc. (NYSE:FI)

Key Points

• Clark Estates Inc. NY reduced its stake in Fiserv, Inc. by 54.2%, selling 30,000 shares and retaining 25,300 shares, which are now worth approximately $5.59 million.
• Several institutional investors, including Geode Capital Management and FMR LLC, increased their holdings in Fiserv during the fourth quarter, reflecting strong institutional interest in the company.
• Fiserv recently reported a quarterly earnings per share (EPS) of $2.47, exceeding the consensus estimate by $0.04, with revenues showing an 8.0% increase compared to the same quarter last year.

Clark Estates Inc. NY cut its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 54.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,300 shares of the business services provider's stock after selling 30,000 shares during the quarter. Fiserv comprises about 1.2% of Clark Estates Inc. NY's holdings, making the stock its 16th largest position. Clark Estates Inc. NY's holdings in Fiserv were worth $5,587,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of FI. Vega Investment Solutions acquired a new stake in Fiserv in the fourth quarter worth $25,000. Park Square Financial Group LLC acquired a new stake in Fiserv in the fourth quarter worth $28,000. Abound Financial LLC acquired a new stake in Fiserv in the first quarter worth $38,000. Quarry LP grew its holdings in Fiserv by 51.9% in the fourth quarter. Quarry LP now owns 205 shares of the business services provider's stock worth $42,000 after purchasing an additional 70 shares during the period. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Fiserv in the fourth quarter worth $54,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Robert W. Baird dropped their price objective on shares of Fiserv from $225.00 to $185.00 and set an "outperform" rating on the stock in a research note on Thursday, July 24th. BMO Capital Markets dropped their price objective on shares of Fiserv from $254.00 to $232.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Citigroup dropped their price objective on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Piper Sandler set a $218.00 price objective on shares of Fiserv in a research note on Friday, April 25th. Finally, Monness Crespi & Hardt raised shares of Fiserv from a "sell" rating to a "neutral" rating in a research note on Monday, July 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Fiserv has an average rating of "Moderate Buy" and a consensus target price of $207.08.

Fiserv Stock Performance

FI stock traded down $2.38 during mid-day trading on Friday, hitting $136.56. The company had a trading volume of 555,815 shares, compared to its average volume of 4,433,736. The firm has a market cap of $74.23 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 0.92 and a beta of 0.91. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09. Fiserv, Inc. has a 12 month low of $128.22 and a 12 month high of $238.59. The stock's fifty day moving average price is $163.09 and its two-hundred day moving average price is $193.22.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $2.47 EPS for the quarter, topping the consensus estimate of $2.43 by $0.04. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.20 billion. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. The company's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.13 earnings per share. On average, analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following the completion of the transaction, the insider owned 53,385 shares in the company, valued at $8,577,901.80. This trade represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total transaction of $904,320.00. Following the completion of the transaction, the executive vice president owned 25,385 shares of the company's stock, valued at $4,061,600. The trade was a 18.21% decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is owned by company insiders.

About Fiserv

Fiserv, Inc, together with its subsidiaries, provides payments and financial services technology services in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through Merchant Acceptance, Financial Technology, and Payments and Network segments.